One of the biggest changes and conflicts that's being pushed in the last 2 decades is the primary function of businesses being about stakeholders (which basically means anyone, its what is used as ESG basis), as opposed to shareholder profit maximization, which has a strong basis in the case law.
There is a legal requirement for businesses to be primarily about profit maximization for shareholders ever since Dodge v. Ford.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3275445
Here is a video by a respected law professor who defends profit maximization doctrine, who is also the writer of many generally accepted law textbooks in the business law field. He cites ones of the most respected and important judges in Delaware (the state where most corporate law cases takes place) for his argument and criticizes the fuck out of ESG.
https://yewtu.be/watch?v=EDKhOJ_SXyU
And an opposing video by the opposite, a notable law professor who claims businesses can be about stakeholders, she's about what you'd expect.
https://yewtu.be/watch?v=k1jdJFrG6NY
In terms of stock stuff, that's more specific and nitty gritty, it depends on a case by case basis for the corp, as yes, there are different types of stocks and ownership situations (i.e. if the CEO gave himself some super special voting stock that gives him 51%+ of the voting rights, he's completely untouchable) and whatnot.
One of the biggest changes and conflicts that's being pushed in the last 2 decades is the primary function of businesses being about stakeholders (which basically means anyone, its what is used as ESG basis), as opposed to shareholder profit maximization, which has a strong basis in the case law.
There is a legal requirement for businesses to be primarily about profit maximization for shareholders ever since Dodge v. Ford.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3275445
Here is a video by a respected law professor who defends profit maximization doctrine, who is also the writer of many generally accepted law textbooks in the business law field. He cites ones of the most respected and important judges in Delaware (the state where most corporate law cases takes place) for his argument and criticizes the fuck out of ESG.
https://yewtu.be/watch?v=EDKhOJ_SXyU
And an opposing video by the opposite, a notable law professor who claims businesses can be about stakeholders, she's about what you'd expect.
https://yewtu.be/watch?v=k1jdJFrG6NY
In terms of stock stuff, that's more specific and nitty gritty, it depends on a case by case basis for the corp, as yes, there are different types of stocks and ownership situations (i.e. if the CEO gave himself some super special voting stock that gives him 51%+ of the voting rights, he's completely untouchable) and whatnot.